LSCM is truly a multidisciplinary research area, and this multidisciplinarity begins with the five most prominent theories playing a role in LSCM theoretical development since 1991: the resource-based view,
transaction cost economics, game theojy, contingency theory, and institutional theory.
The most notable approach is Oliver Williamson's
Transaction Cost Economics (TCE).
Amongst the prominent theories are
transaction cost economics theory, theory of core competencies, knowledge based-view theory, resource based-view theory and etc.
Applying
Transaction Cost Economics: A Note on Biomass Supply Chains, 25
In this paper, we answer these questions by applying the conceptual lens of
transaction cost economics (TCE) theory to the domain of family business.
Transaction cost economics: how it works; where it is headed, De Economist 146: 23-58.
Later analyses of the firm, such as in
Transaction Cost Economics (Williamson, 1967; 1973; 1979), build on Coase's insight but do not generally question his fundamental (but problematic) conjecture of the firm as a hierarchical and authority-based substitute to the market.